Benetti Yachts' CEO on consumer trends and cool customisations
Sep 19, 2024
Marco Valle, the CEO of Azimut Benetti Group, tells David Ho about Asia Pacific yacht owner demographics and the modifications they seek
Founded in 1873, Benetti is the oldest Italian shipyard specialized in luxury yachts. The bost building company has been moving forward in Asia Pacific (APAC) as the market here grows. Marco Valle, the CEO of Azimut Benetti Group, shares the changes he is seeing among yacht owners in the region, from demographic shifts to customisation trends.
What trends are you seeing among the APAC consumer base?
In the past years, we have observed a reduction in the average age of our clientele, particularly in Asia, there has been increasing wealth in the region. About a decade ago, the average Benetti owners were around 65, however, the average has become younger to approximately 55-years-old, with the youngest in their 30s. This has inevitably led to a shift in demand and expectations of the travel and onboard experiences they seek for. Specifically, we are seeing the new generation of owners looking for a more convivial and less formal onboard lifestyle which allows them to be in closer contact with the water.
What kind of onboard experiences do Asian boat owners seek?
The Asian market is pursuing novel onboard experiences and lifestyles that align with their interests, values, and aspirations. There is also a growing awareness of health and wellness, a need for accessibility and connectivity and a new consciousness toward environmental and sustainable solutions.
After the pandemic, they are seeking spaces that allow them to live or do remote work onboard. They are looking for a space that is ideal to reconnect with their family and loved ones, to work as well as to be closer to the sea. And this means longer stays at anchor than the typical short trips out to the sea, which require more facilities and amenities that can provide a more comfortable / at-home experience while they are onboard.
To create a yacht that appeals to today’s cruisers and respond to the ever-evolving market trends, Benetti collaborates with some of the world’s foremost yacht designers to create a cruising experience that cater to the desired lifestyle of today’s ultra HNWIs (High Net Worth Individuals) while minimizing the fuel and energy consumption. One such example is the Motopanfilo 37M & 45M that were created and designed by Carl Pickering and Claudio Lazzarini (from Lazzarini Pickering Architetti, the design studio responsible for the interior), and Francesco Struglia, the exterior designer.
What are the notable distinctions in clients' preferences and behaviour across various markets, such as the variance between clients in the Middle East compared to those in Southeast Asia, Europe or Americas?
One key difference between Europe, Americas and Southeast Asia is the difference in climate which impacts the use and operational requirements of the yacht. In Southeast Asia, customers would want a yacht with shaded and cool outdoor space due to the tropical weather conditions, and well-equipped indoor spaces that allow bonding time and entertainment activities. While in Europe, there are longer daylight hours and shorter nights and customers tend to look for yachts that have integrated exterior and interior spaces to enjoy evenings onboard – be it dining or social / entertainment activities. For example, the Oasis Deck is a highly sought-after amenity amongst the owners who have kept their yachts in the Mediterranean that allows them to enjoy those long evenings.
While in Asia, there is a lot of new wealth and the buyers in Asia are hungry for novelty experiences. For instance, Southeast Asian markets have witnessed a significant shift towards displacement yachts. This is largely because these yacht owners started prioritizing extended long-range cruising, long-stay capability and luxury onboard experiences when finding their ideal “home-away-from-home”.
Another notable difference between customers in Europe, America’s and Southeast Asia is their kitchen set-up preferences. For instance, Asian customers will seek for optimal kitchen equipment and space that allow them to whip up a cozy meal for themselves and their guests, while the Americans will request for a professional barbecue pit on the upper deck. Hence, we work with various partners to offer customized solutions to satisfy all needs.
That said, the concept of “separation of the flow between the guests and the crew” is still a design element that apples not only to Europe-based clients but also to those in Asia.
Who are your most extravagant clients?
The demographics of our most extravagant clients cover a wide age range, typically spanning from individuals in their 30s to those in their 60s, with a notable concentration in their 50s though we are seeing more and more young and successful individuals. These clients are globally minded and experienced international travelers, with exposure to the highest levels of luxury adventure and originality. They are well informed on style, tech, fashion and trends and are appreciative of artisan crafts and cuisines. These group of clients also place a huge emphasis on their family, friends, and the art of crafting enduring memories for all involved.
We are also a rising demand for yachts that can accommodate the need and preferences of multi-generational families. For most of these clients, they often look for spaces that cater to various purposes – from hosting parties to serving as a remote workstation while on board.
What are some of the most extravagant modifications?
These modifications include what is called a 'palace of glass', which refers to super high ceilings. Some have over 800 square meters of exterior glass wrapping around the main desks, with 3-meter high windows. A straight bow offers brilliant seakeeping credentials, while a huge forward deck area brings guests a thrilling vantage point from which to cruise and relax. From here, the main deck is a step lower, offering further dining and social spaces, sheltered and shaded by the graceful overhang of the beautifully styled superstructure.
Then, there are those seeking a 'symphony of light'. Some opt for 3-meter-high windows that flood spaces with light, providing a seamless connection with the outside world. A magnificent skylight at the sun deck level fills the yacht with a longitudinal axis of light, cascading down the 17-meter staircase that passes through five of the yacht’s 6 decks, its polished steel and toughened glass giving the structure a sculptural yet floating appearance. Also, a variety of glazed surfaces creates a constant impression of shifting light, which enters the yacht from all angles. The materials and colors used in fabric, furnishings and fittings offer a continuity between indoor and outdoor spaces.
What are some of the most extravagant modifications?
These modifications include what is called a 'palace of glass', which refers to super high ceilings. Some have over 800 square meters of exterior glass wrapping around the main desks, with 3-meter high windows. A straight bow offers brilliant seakeeping credentials, while a huge forward deck area brings guests a thrilling vantage point from which to cruise and relax. From here, the main deck is a step lower, offering further dining and social spaces, sheltered and shaded by the graceful overhang of the beautifully styled superstructure.
Then, there are those seeking a 'symphony of light'. Some opt for 3-meter-high windows that flood spaces with light, providing a seamless connection with the outside world. A magnificent skylight at the sun deck level fills the yacht with a longitudinal axis of light, cascading down the 17-meter staircase that passes through five of the yacht’s 6 decks, its polished steel and toughened glass giving the structure a sculptural yet floating appearance. Also, a variety of glazed surfaces creates a constant impression of shifting light, which enters the yacht from all angles. The materials and colors used in fabric, furnishings and fittings offer a continuity between indoor and outdoor spaces.
More and more, we see yacht owners seeking a 'natural connection'. Ways to achieve this include visual artworks that bring the natural rhythms and energy of the organic world into the heart of the yacht’s interior. One such feature is the visual panel of 370-sq meters that stretches along the height of the main lobby stairwell. Depicting a moving forest, these images gently sway as guests pass, bringing a dynamic and unexpected vibrancy to the space. More interactive technology in the main lounge area comes in the form of 264 white magnolia flowers sculpted in Corian resin on the aft wall. In a charming visual greeting, they open and close at varying speeds as a person passes by.
